Question

In the BIG BUCKS LOTTERY, the chance of winning a $10 prize is 1%. What is your best guess about how many people would win a $10 prize if 1000 people each buy a single ticket to BIG BUCKS?

Answer 1

Answer:

The correct answer would be, 10 Persons.

Explanation:

If there are 1000 people in the Big Bucks lottery and there is a 1 percent chance of winning 10 dollars prize if all 1000 people buy the lottery ticket of 10 dollars. If every person buys 10 dollar lottery ticket, then the chances of winning people would be calculated as follows:

Total number of People = 1000

Chances of winning the lottery = 1%

So How many people would win 10 dollar lottery = 1000 * 1%

= 1000 * 0.01

= 10 People.

So there are chances that 10 out of 1000 people will win the lottery.

Answer 2

Is known :

C = 1%

n = 1000

Settlement:

Ef = C (a) x n

Ef = 0.01 x 1000

Ef = 10

So out of 1000 people who have a chance to get $ 10 there are only 10 people.

Further explanation

Definition of Opportunity

Opportunity can be interpreted as a way that is done to determine the likelihood of an event. in a problem, there must be uncertainty caused by an action that sometimes has other results.

Suppose it happens to a coin that is tossed up then the result can appear on the side of the image or the number side, then the side that will appear cannot be said with certainty the truth.

As a result of the event of throwing a coin, there is one of two events that are likely to occur, namely the appearance of the figure or figure. The activity of tossing a coin can be said as a random act. The action can be repeated several times and the sequence of actions is called an experiment.

There are several kinds of calculations in the opportunity value, including the following:

1. Frequency of Expectations

2. Compounding Events

The expected frequency is the number of times in an experiment multiplied by the chance of an event. So the expected frequency is to calculate how many opportunities for an event by repeatedly experimenting, or it can also be called an experimental test.

Expectation Frequency Formula

Ef = C (a) x n

information :

Ef = Expected Frequency

C = Chance

a = Event a (only symbol of an event)

n = The number of experiments

Learn more

Opportunity value brainly.com/question/6660846, brainly.com/question/3161340

Details

Class: College

Subject: Bussines

Keyword: Opportunity value